The city-headquartered lender has the highest number of salary accounts and its clientele includes 2.9 crore debit cardholders and 1.3 crore credit card, customers.
Highlights
NFC stands for near-field communication.
The NFC technology lets users transact without the need to swipe a card physically.
Google Pay is likely to up the ante in India’s burgeoning fintech segment by launching NFC based payments. The NFC technology lets users transact without the need to swipe a card physically.
Instead, it simply needs a user to keep its NFC-enabled device close enough to the point of sale machine, which also needs to be NFC-enabled for completing the transaction. It is important to note that NFC stands for near-field communication.
Google Pay has been known for bringing innovation in payment technology. It was among the first platforms in India which launched UPI based payments. The platform recently also allowed its users to transact safely using their credit cards, and now it might soon the NFC-based technology.